ADT Proposed Secondary Public Offering of 56M Common Stock and 16M Concurrent Share Repurchase By Selling Shareholder Apollo Global Management
Portfolio Pulse from Benzinga Newsdesk
ADT Inc. announced a proposed secondary public offering of 56 million shares by Apollo Global Management, with a concurrent repurchase of 16 million shares by ADT. The company will not receive proceeds from the offering.
October 28, 2024 | 10:16 am
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ADT Inc. is involved in a secondary public offering of 56 million shares by Apollo Global Management, with a concurrent repurchase of 16 million shares. ADT will not receive any proceeds from this offering.
The secondary offering by Apollo Global Management could lead to increased stock supply, potentially affecting ADT's stock price. However, the concurrent share repurchase by ADT may offset some of this impact. Since ADT is not receiving proceeds, the financial impact on the company is neutral.
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